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FINANCIAL NEWS
MENA countries to spend USD755b on energy projects
10 Feb 2015
(MENAFN) Countries and companies in the Middle East and North Africa (MENA) are planning to invest USD755 billion on energy projects over the next four years, report showed, Arabian Oil and Gas reported.
The Arab Petroleum Investments Corporation (APICORP) said its forecast was only slightly down on its 2014-2018 prediction that USD760 billion would be spent on projects.
The economic commentary said 31 percent of the total will be spent on oil projects, while 27 percent will be used for gas programs.
The remaining investment will be pushed towards power generation, as MENA states struggle to keep up with demand for electricity.
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